Reclaiming my time, the example the gentleman used was a couple that bought a $30,000 house, sold it for $200,000, which means it's a $170,000 gain. The tax would be zero because the tax doesn't kick in until $250,000. Every Member is entitled to his own opinion but not his own set of facts. These assertions are false.
Speaker Andrews addresses inaccuracies in a colleague's example regarding tax implications on home sales.
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